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Budget Analysts Occupation Detailed Description

Budget Analysts career

General Job Description and Education/Training Levels for Budget Analysts

The main tasks and work activities of Budget Analysts are to analyze budgetary or accounting data, prepare financial documents, reports, or budgets, discuss business strategies, practices, or policies with managers, analyze business or financial data. In general, for the Budget Analysts, active Listening, reading Comprehension, critical Thinking, mathematics and other 12 skills are required.
Budget Analysts Job Description
EducationMost of these occupations require a four-year bachelor's degree, but some do not.
Related ExperienceA considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
Job TrainingEmployees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
ExampleMany of these occupations involve coordinating, supervising, managing, or training others. Examples include real estate brokers, sales managers, database administrators, graphic designers, chemists, art directors, and cost estimators.
The following chart shows the education/training levels for Budget Analysts jobs. 10.06% of Budget Analysts have High School Diploma (or the equivalent) and 76.03% of Budget Analysts have Bachelor's Degree and Above.
Less than a High School Diploma
0.00%
High School Diploma (or the equivalent)
10.06%
Post-Secondary Certificate
0.00%
Some College Courses
3.28%
Associate's Degree (or other 2-year degree)
10.63%
Bachelor's Degree and Above
76.03%

Tasks and Work Activities of Budget Analysts

  • Analyze monthly department budgeting and accounting reports to maintain expenditure controls.
  • Direct the preparation of regular and special budget reports.
  • Consult with managers to ensure that budget adjustments are made in accordance with program changes.
  • Match appropriations for specific programs with appropriations for broader programs, including items for emergency funds.
  • Provide advice and technical assistance with cost analysis, fiscal allocation, and budget preparation.
  • Summarize budgets and submit recommendations for the approval or disapproval of funds requests.
  • Seek new ways to improve efficiency and increase profits.
  • Review operating budgets to analyze trends affecting budget needs.
  • Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations.
  • Perform cost-benefit analyses to compare operating programs, review financial requests, or explore alternative financing methods.
  • Interpret budget directives and establish policies for carrying out directives.
  • Compile and analyze accounting records and other data to determine the financial resources required to implement a program.
  • Testify before examining and fund-granting authorities, clarifying and promoting the proposed budgets.
  • Interacting With ComputersUsing computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
  • Getting InformationObserving, receiving, and otherwise obtaining information from all relevant sources.
  • Analyzing Data or InformationIdentifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
  • Processing InformationCompiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
  • Communicating with Supervisors, Peers, or SubordinatesProviding information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
  • Establishing and Maintaining Interpersonal RelationshipsDeveloping constructive and cooperative working relationships with others, and maintaining them over time.
  • Evaluating Information to Determine Compliance with StandardsUsing relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
  • Updating and Using Relevant KnowledgeKeeping up-to-date technically and applying new knowledge to your job.
  • Making Decisions and Solving ProblemsAnalyzing information and evaluating results to choose the best solution and solve problems.
  • Documenting/Recording InformationEntering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
  • Analyze budgetary or accounting data.
  • Prepare financial documents, reports, or budgets.
  • Discuss business strategies, practices, or policies with managers.
  • Analyze business or financial data.
  • Advise others on financial matters.
  • Identify opportunities to improve operational efficiency.
  • Verify accuracy of financial information.
  • Establish organizational guidelines or policies.
  • Gather financial records.
  • Testify at legal or legislative proceedings.

Skills and Abilities for Budget Analysts

  • Active ListeningGiving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Reading ComprehensionUnderstanding written sentences and paragraphs in work related documents.
  • Critical ThinkingUsing logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • MathematicsUsing mathematics to solve problems.
  • SpeakingTalking to others to convey information effectively.
  • Complex Problem SolvingIdentifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Judgment and Decision MakingConsidering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Active LearningUnderstanding the implications of new information for both current and future problem-solving and decision-making.
  • WritingCommunicating effectively in writing as appropriate for the needs of the audience.
  • MonitoringMonitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
  • Management of Financial ResourcesDetermining how money will be spent to get the work done, and accounting for these expenditures.
  • Systems AnalysisDetermining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
  • Social PerceptivenessBeing aware of others' reactions and understanding why they react as they do.
  • Time ManagementManaging one's own time and the time of others.
  • CoordinationAdjusting actions in relation to others' actions.
  • Written ComprehensionThe ability to read and understand information and ideas presented in writing.
  • Number FacilityThe ability to add, subtract, multiply, or divide quickly and correctly.
  • Oral ComprehensionThe ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Mathematical ReasoningThe ability to choose the right mathematical methods or formulas to solve a problem.
  • Inductive ReasoningThe ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Deductive ReasoningThe ability to apply general rules to specific problems to produce answers that make sense.
  • Written ExpressionThe ability to communicate information and ideas in writing so others will understand.
  • Information OrderingThe ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
  • Problem SensitivityThe ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
  • Oral ExpressionThe ability to communicate information and ideas in speaking so others will understand.
  • Speech ClarityThe ability to speak clearly so others can understand you.
  • Speech RecognitionThe ability to identify and understand the speech of another person.
  • Near VisionThe ability to see details at close range (within a few feet of the observer).
  • Fluency of IdeasThe ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
  • Category FlexibilityThe ability to generate or use different sets of rules for combining or grouping things in different ways.
  • Selective AttentionThe ability to concentrate on a task over a period of time without being distracted.
  • Desktop computerse.g. Desktop computers
  • Laser printerse.g. Laser printers
  • Notebook computerse.g. Notebook computers
  • Personal computerse.g. Personal computers
  • Economics and AccountingKnowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • MathematicsKnowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • English LanguageKnowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Administration and ManagementKnowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
  • ClericalKnowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
  • Law and GovernmentKnowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
  • Customer and Personal ServiceKnowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • Computers and ElectronicsKnowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.